Table of Contents

 

Part I: Scope of the Business.

1. Scope of Mortgage Loan Brokerage

2. Sources of Business

 

Part II: Loans

3. Loans: Conventional

4. Loans: Government

5. Loans: Financial Disclosure and Other Real Estate Disclosures

 

Part III: Processing.

6. Processing: Pre-Qualification and Loan Application

7. Processing: Credit & Disclosures

8. Processing: Verifications & Stacking Order

9. Processing: Appraisal, Title and Settlement

10. Processing: Underwriting & Quality Control

11. Processing: Documents, Funding & Closing

 

Part IV: The Secondary Money Market.

12. Shipping & Servicing

 

Part V: Regulations & Operations.

13. The Business Operations, Lending Practices and Department of Corporations (DOC)

14. California Department of Real Estate (DRE) License Activity for Loan Agents

15. Math and Trust Funds for the Loan Agent

Appendix A – Loan Application FNMA Form 1003 – (English and Spanish)

Appendix B – Credit Report

Appendix C – Verifications

Appendix D – Sale Escrow Instructions

Appendix E – Appraisal Report

Appendix F – Preliminary Title Report

Appendix G – Loan Documents

Appendix H – Employment Forms

Appendix I – Wholesale Brokerage Agreement

Appendix J – Websites

Appendix K – Glossary of Terms